Holywood is very shaky right now, but the first domino to fall is from the North of the border. Canadian producer and co-financier Bron has filed for cross-border bankruptcy in both Canada and the United States. This is despite being the backer of a number of high-profile movies in recent years including Joker, Licorice Pizza, Bombshell, Greyhound, The Mule, House of Gucci, Ghostbusters: Afterlife, and Judas and the Black Messiah.
The company has filed for creditor protection with the Supreme Court of British Columbia in Canada, concurrent with Chapter 15 of the Bankruptcy Code in the United States. CEO Aaron L. Gilbert said:
“The decision to seek creditor protection was not taken lightly and was adopted with a view to the best interests of the company and its many stakeholders.”
Court-appointed monitor Grant Thornton Limited is now in the hot seat to steer the company, which has been struggling with recovery after COVID. Lower than expected box office returns, then the double whammy of the strikes halting productions, has hit the viability of the production company. Finance will have dried up.
Bron has produced or executive produced more than 125 productions including the Adam Driver-led 65 and Ron Howard’s Thirteen Lives. It is also behind HBO’s The Idol, Apple TV+ series Black Bird and The Morning Show, Oscar nominee Tar, and Ti West’s X.
If the current situation continues, they won’t be the last.
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